Karowe Mine revenues seen rising to P2.1bn

In a statement released this week, Lucara said revenue should be between $170 million and $200 million (P2.1 billion) in 2018, compared with the $165 million to $175 million (P1.8 billion) that the company expects to bring in this year.

 Estimated production and sales volume for next year is seen at 270,000 to 290,000 carats versus a forecast of 260,000 to 270,000 carats in 2017. Lucara recently cut its forecast for this year as sales weakened by 20% in the nine months to September 2017 due to delays in getting the operations of its new mining contractor, Aveng Moolman, off the ground. Lucara had initially projected revenue of $200 million to $220 million from the production and sale of 290,000 to 310,000 carats this year, but last month trimmed the forecasts.